Nicolas Véron

Financial Statements: Is limited liability the best regime for banks?

In the Financial Statements episode of September 6, I hosted the legendary Charles Goodhart and NYU Stern's Viral Acharya to discuss the proposal of moving away from limited liability for financial insiders, as suggested in a recent paper which Goodhart co-authored with Rosa Lastra. 

Financial Statements: Can supervisory reform prevent repeat bank failures in the US?

In the Financial Statements episode of August 9, I hosted specialized consultant Mayra Rodriguez Valladares and Yale University's Steven Kelly to discuss the U.S. supervisory failures, its failures revealed in March, and prospects for improvement. 

Financial Statements: How to think about systemic cyber risk in financial services

In today's session, I hosted former senior U.S. official James Freis and the European Banking Federation's Alexandra Maniati for a holistic discussion of cyber risk in the financial sector. 

Financial Statements: CBDC projects gradually take shape

In today's session, I hosted Katie Fortune of the Bank of England, who expanded from their February paper, and Signe Krogstrup of the National Bank of Denmark. 

Financial Statements: How (in)effective is US banking supervision?

In yesterday's session, I hosted Wharton's Peter Conti-Brown and Rosa Lastra of Queen Mary University of London, following up on the prior session on a similar theme held in late April. 

Financial Statements: A renewed look at Russia's wartime economy

In today's session, the Bank of Finland's Iikka Korhonen gave an update of the presentation he gave a year ago on Russia's economic outlook, followed by a conversation together with Nataliia Shapoval of the Kyiv School of Economics. 

Financial Statements: Will China's financial sector remain forever state-dominated?

In today's episode, I hosted Qiao Yide of the Shanghai Development Research Foundation and Victor Shih of University of California San Diego to discuss the obstacles faced by private-sector firms in China's financial sector. 

Financial Statements: US bank supervision and deposit insurance after the collapse of Silicon Valley Bank

In today's session, I hosted Dan Tarullo of Harvard Law School and Sarah Bloom Raskin of Duke Law School to discuss the recent supervisory failures and consequences for banking regulation and deposit insurance in the United States. 

Financial Statements: The quest for global insurance standards

In the session on Tuesday, March 21, I hosted Romain Paserot of the International Association of Insurance Supervisors (IAIS) and Yoshihiro Kawai of Kyoto University to discuss the IAIS's ongoing project of a globally accepted Insurance Capital Standard that would apply to large internationally active insurance groups. 

Financial Statements: A post-mortem of the Danske Bank fraud

In yesterday's session, I hosted Jesper Berg of the Danish Financial Supervisory Authority and David Enrich of the New York Times to discuss the lessons from the landmark settlement of Danske Bank following large-scale financial malpractice at its Estonian branch in the early 2010s. 

Financial Statements: The Party vs. shareholders: What drives corporate governance in China?

In today's session, Stanford Law School's Curtis Milhaupt and my PIIE colleague and coauthor Tianlei Huang debated the unique role of the Chinese Communist Party in corporate governance, and how to think about it in comparative terms vis-à-vis neighboring East Asian and other major economies. 

Financial Statements: Lessons for systemic liquidity risk from recent crises

Belatedly - in the session two weeks ago, I hosted Raghuram Rajan and Megan Greene to revisit the recent liquidity episodes and what may have been driving them.  

Financial Statements: The City of London after Brexit: An update

In today's session of the Financial Statements series, William Wright and Caroline Atkinson debated the still unfolding structural consequences of the UK exit from the European Union, exactly two years about a previous session that was held only a few weeks after the British departure from the EU Internal Market. 

Financial Statements: Preparing the economy and financial system for hybrid war: Finland's experience

Today's session featured Olli Rehn, governor of the Bank of Finland, and Julia Friedlander, chief executive of Atlantik-Brücke, for a discussion of threats from Russia to the European financial system and Finland's unique experience in such matters. 

Financial Statements: Can regulation save crypto?

Belatedly - the session on December 13 featured Matthew Elderfield, who has experience as both a former supervisor and a former senior bank executive in Europe, and Karen Petrou, founder and managing partner of Federal Financial Analytics in the U.S. 

Financial Statements: Why did China build its Cross-Border Interbank Payment System and what does it mean for the dollar?

In today's session we discussed the nature and role of China's Cross-Border Interbank Payment System (CIPS), with Felix Chang and Emily Jin. 

Financial Statements: Financial stability and policy risks in the euro area

In today's session, I hosted Peter Praet, former ECB Executive Board member and now at Solvay Business School, and Guntram Wolff, former Director of Bruegel and now head of DGAP. It was a wide-ranging conversation on risks to financial stability in the euro area, with emphasis on the consequences of monetary policy decisions. 

Financial Statements: Are Germany’s institutional protection schemes an obstacle to EU banking reform?

In yesterday's session at PIIE, I hosted Tobias Tröger of Goethe University Frankfurt and Michael Wolgast of Berlin Global Advisors to discuss Germany's two idiosyncratic institutional protection schemes around savings banks (Sparkassen) and cooperative banks (Volksbanken and Raiffeisenbanken), and their impact on EU banking reform options. 

Financial Statements: Tokyo and the contest for prominence among Asian financial centers

I today's episode, I hosted Nakagawa Saiko of Japan's Financial Services Agency and Sumit Agarwal of the National University of Singapore, to discuss the prospects for Asian financial centers in the wake of China's crackdown on Hong Kong, Brexit, and other regional and global developments. 

Financial Statements: Ukraine's economy and finances, seven months into the war

In today's session I hosted Oleg Churiy and Olena Bilan to discuss the state of Ukraine's wartime economy, fiscal position, financial conditions including in occupied territories, and options for public financing. 

Financial Statements: Will the new China-US audit deal resolve a decade-long dispute?

Today's session of Financial Statements at PIIE was about the longstanding China-US dispute on audit oversight, and whether the recently announced agreement between the US Public Company Accounting Oversight Board (PCAOB) and its Chinese counterparts will finally resolve it. I hosted Liza McAndrew Moberg, until recently the PCAOB's head of international affairs, and Eric Forni, attorney at DLA Piper. 

Financial Statements: How more global coordination can make cross-border payments faster, cheaper, and safer

I forgot to post this two weeks ago. The PIIE Financial Statements session on August 31 featured Tara Rice, head of the CPMI (Committee on Payments and Market Infrastructures) Secretariat at the Bank for International Settlements in Basel, and Joseph Sommer, formerly at the Federal Reserve Bank of New York, to discuss the CPMI's ongoing cross-border payments programme. 

Financial Statements: What is behind China's lending abroad?

In today's session, I hosted Brad Parks, Executive Director of the AidData lab at Williams and Mary, and PIIE's Mary Lovely for a very rich discussion of China's lending abroad. 

Financial Statements: Global financial infrastructure amid shifting geopolitics

In today's session, I hosted Marc Bayle of CLS Group and Sopnendu Mohanty of the Monetary Authority of Singapore, for a candid discussion of the case and prospects for global financial infrastructure in the current fast-evolving international environment.  

Financial Statements: Can Turkey keep defying financial gravity?

In today's session, I hosted Turalay Kenç and Sinan Ülgen to discuss Turkey's idiosyncratic economic trajectory, and whether the country can avoid a major episode of crisis before the election cycle scheduled in a year's time.